business

Live: Nifty’s record run continues; GMM Pfaudler & Dwarikesh Sugar in focus| Yatra online IPO opens

Indian equity market closed a volatile session higher with the Nifty50 ending at fresh record closing high. Going forward, the 20,100 is likely to be crucial level for further direction in the market, with resistance at 20,200-20,300 area and the key support at 19,900 levels, say experts. The BSE Sensex rose 52 points to 67,519, extending upward journey for 10th consecutive session, while the Nifty50 advanced 33 points to 20,103, the fresh closing high. The broader markets also continued to recoup further losses, with positive breadth in the ratio of 3:1. The Nifty Midcap 100 and Smallcap 100 indices gained more than 1 percent each, sustaining uptrend for second straight session, after falling 3 percent and 4 percent on September 12. The fear index, India VIX remained below 12, which gives comfort for bulls, falling 4.31 percent to 11.32 levels. This morning global cues are extremely positive with US markets staging a smart rally and European stocks ending higher after ECB raised rates by 25 bps and signals more hikes could be off the table. GIFT Nifty is hinting at a higher start for the Indian market. Stocks in the spotlight are Bharat Forge, Schneider Electric and Sequent Scientific. Meanwhile, Yatra Online’s Rs 775 cr kicks off for subscription today. Catch Nandita Khemka in conversation with Raja Venkatraman of Neotrader and Vijay Banka, While Time Director, Dwarikesh Sugar.

first published: Sep 15, 2023 08:42 am